Summary

KEY FINDINGS
The South Korea plant-based food & beverage market is estimated to propel with an 11.25% CAGR during the forecast period, 2023-2030. The COVID-19 pandemic, rising environmental awareness, and increased support for animal rights are contributing to the market growth.
MARKET INSIGHTS
In recent years, the plant-based food and beverage market in South Korea has experienced significant growth. This growth is attributed to various factors, such as the COVID-19 pandemic, which heightened health consciousness and the search for alternative protein sources. The rising environmental awareness and the increased support for animal rights have also contributed to the development of the market.
As a result, established vegan food businesses and major corporations have entered the market, propelling the vegetarian/vegan sector into the limelight. Their robust promotion and investments have transformed it from a niche industry to a significant market player.
Foreign suppliers of vegan products are presented with a significant opportunity to offer Korean consumers a wide range of high-quality vegan options. This is due to the high value placed on vegan and environmentally friendly products from international companies in offline and online markets. Importing vegan food products into Korea is subject to the same import rules as other foods, and there are no unique regulations or procedures governing their importation. After importation, vegan products are distributed through online stores and other channels, often with certification from the Korea Agency of Vegan Certification.
COMPETITIVE INSIGHTS
Key players operating in the market include General Mills Inc, Conagra Brands, Danone SA, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations.
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

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Table of Contents

TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. COUNTRY SNAPSHOT
2.3. COUNTRY ANALYSIS
2.4. SCOPE OF STUDY
2.5. CRISIS SCENARIO ANALYSIS
2.5.1. IMPACT OF COVID-19 ON PLANT-BASED FOOD & BEVERAGE MARKET
2.6. MAJOR MARKET FINDINGS
2.6.1. EMERGENCE OF HEMP MILK AS A SUBSTITUTE FOR DAIRY-BASED MILK
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. GROWING ADOPTION OF VEGAN AND VEGETARIAN DIETS
3.1.2. FAVORABLE INITIATIVES BY GOVERNMENTS AND ASSOCIATIONS
3.1.3. TRENDING HEALTH AND SUSTAINABILITY LIFESTYLE CHOICES
3.1.4. SURGING FOOD SAFETY AND ANIMAL WELFARE CONCERNS
3.2. KEY RESTRAINTS
3.2.1. CHALLENGES ASSOCIATED WITH SENSORY PROPERTIES & ALLERGIC REACTIONS OF CERTAIN PLANT PROTEINS
3.2.2. EXORBITANT COSTS OF PLANT-BASED PRODUCTS
4. KEY ANALYTICS
4.1. KEY MARKET TRENDS
4.2. PESTLE ANALYSIS
4.3. PORTER’S FIVE FORCES ANALYSIS
4.3.1. BUYERS POWER
4.3.2. SUPPLIERS POWER
4.3.3. SUBSTITUTION
4.3.4. NEW ENTRANTS
4.3.5. INDUSTRY RIVALRY
4.4. GROWTH PROSPECT MAPPING
4.4.1. GROWTH PROSPECT MAPPING FOR SOUTH KOREA
4.5. MARKET MATURITY ANALYSIS
4.6. MARKET CONCENTRATION ANALYSIS
4.7. VALUE CHAIN ANALYSIS
4.7.1. RAW MATERIAL SUPPLIERS
4.7.2. FOOD MANUFACTURERS
4.7.3. DISTRIBUTORS
4.7.4. END-USERS
5. MARKET BY PRODUCT TYPE
5.1. PLANT-BASED DAIRY DERIVATIVES
5.1.1. PLANT-BASED ICE CREAM & FROZEN DESSERTS
5.1.2. PLANT-BASED CHEESE
5.1.3. PLANT-BASED YOGURT
5.1.4. PLANT-BASED CREAMER
5.1.5. PLANT-BASED DAIRY SPREADS & DIPS
5.2. PLANT-BASED MEAT SUBSTITUTES
5.2.1. TEXTURED VEGETABLE PROTEIN
5.2.2. TOFU
5.2.3. TEMPEH
5.2.4. MYCOPROTEIN, SEITAN, AND OTHER MEAT SUBSTITUTES
5.3. PLANT-BASED NUTRITION/SNACK BARS
5.4. PLANT-BASED BAKERY PRODUCTS
5.5. PLANT-BASED BEVERAGES
5.5.1. PLANT-BASED MILK
5.5.1.1. SOY MILK
5.5.1.2. ALMOND MILK
5.5.1.3. OTHER PLANT-BASED MILK
5.5.2. PACKAGED SMOOTHIES
5.5.3. COFFEE
5.5.4. TEA
5.5.5. OTHER PLANT-BASED BEVERAGES
5.6. OTHER PRODUCT TYPES
6. MARKET BY SOURCE
6.1. SOY
6.2. WHEAT
6.3. PEA
6.4. COCONUT
6.5. ALMOND
6.6. CASHEW
6.7. OTHER SOURCES
7. MARKET BY STORAGE
7.1. FROZEN
7.2. REFRIGERATED
7.3. SHELF-STABLE
8. MARKET BY DISTRIBUTION CHANNEL
8.1. STORE-BASED DISTRIBUTION CHANNEL
8.1.1. SUPERMARKETS/HYPERMARKETS
8.1.2. CONVENIENCE STORES
8.1.3. SPECIALTY STORES
8.1.4. OTHER STORE-BASED DISTRIBUTION CHANNELS
8.2. NON-STORE-BASED DISTRIBUTION CHANNEL
9. COMPETITIVE LANDSCAPE
9.1. KEY STRATEGIC DEVELOPMENTS
9.1.1. ACQUISITIONS
9.1.2. PRODUCT LAUNCHES
9.1.3. PARTNERSHIPS & AGREEMENTS
9.1.4. BUSINESS EXPANSIONS & DIVESTITURES
9.2. COMPANY PROFILES
9.2.1. CONAGRA BRANDS
9.2.1.1. COMPANY OVERVIEW
9.2.1.2. PRODUCT LIST
9.2.1.3. STRENGTHS & CHALLENGES
9.2.2. DANONE SA
9.2.2.1. COMPANY OVERVIEW
9.2.2.2. PRODUCT LIST
9.2.2.3. STRENGTHS & CHALLENGES
9.2.3. GENERAL MILLS INC
9.2.3.1. COMPANY OVERVIEW
9.2.3.2. PRODUCT LIST
9.2.3.3. STRENGTHS & CHALLENGES
9.2.4. NESTLE SA
9.2.4.1. COMPANY OVERVIEW
9.2.4.2. PRODUCT LIST
9.2.4.3. STRENGTHS & CHALLENGES
9.2.5. THE HAIN CELESTIAL GROUP INC
9.2.5.1. COMPANY OVERVIEW
9.2.5.2. PRODUCT LIST
9.2.5.3. STRENGTHS & CHALLENGES